T&T Supermarket: Difference between revisions
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The average size of each store is between {{convert|35000|sqft|m2|abbr=on}}. and {{convert|45000|sqft|m2|abbr=on}}. In addition to the many departments found in a regular supermarket, most T & T stores also have an in-house bakery, an Asian [[Delicatessen|deli]], a [[sushi]] and [[Chinese barbecue]] department. |
The average size of each store is between {{convert|35000|sqft|m2|abbr=on}}. and {{convert|45000|sqft|m2|abbr=on}}. In addition to the many departments found in a regular supermarket, most T & T stores also have an in-house bakery, an Asian [[Delicatessen|deli]], a [[sushi]] and [[Chinese barbecue]] department. |
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T & T is part of [[Loblaw Companies]], which purchased it in July 2009 for $225 million in consideration, consisting of $191 million in cash and $34 million in preferred shares.<ref>{{cite news| url=http://www.cbc.ca/money/story/2009/07/24/loblaw-tandt-takeover.html | work=CBC News | title=Loblaw buying T&T Asian food chain | date=July 24, 2009}}</ref> The consideration paid above and beyond the tangible asset base of the company (i.e. the [[accounting goodwill]]) was estimated at $180 million.<ref>{{cite web|url=http://www.loblaw.ca/Theme/Loblaw/files/doc_financials/lcl09qtr3_en.pdf|publisher=Loblaw Companies|title=2009 Third Quarter Report|page= |
T & T is part of [[Loblaw Companies]], which purchased it in July 2009 for $225 million in consideration, consisting of $191 million in cash and $34 million in preferred shares.<ref>{{cite news| url=http://www.cbc.ca/money/story/2009/07/24/loblaw-tandt-takeover.html | work=CBC News | title=Loblaw buying T&T Asian food chain | date=July 24, 2009}}</ref> The consideration paid above and beyond the tangible asset base of the company (i.e. the [[accounting goodwill]]) was estimated at $180 million.<ref>{{cite web|url=http://www.loblaw.ca/Theme/Loblaw/files/doc_financials/lcl09qtr3_en.pdf|publisher=Loblaw Companies|title=2009 Third Quarter Report|page=22|accessdate=2012-03-04}}</ref> The chain had been created as a joint venture of [[Uni-President Enterprises Corporation]], one of Taiwan's ten largest conglomerates; [[99 Ranch Market|Tawa Supermarkets]] Inc., a California-based chain of Asian supermarkets; and a group of Canadian investors. Chief executive officer Cindy Lee is a Taiwanese-Canadian who started the business with one store. |
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The first "T" stands for Tawa Supermarket Inc; the second "T" represents Uni-President Enterprises Corp., whose Chinese name is pronounced "Tong Yi".<ref>{{cite web| title =T&T arrives with a bang | author = Ron Eade |publisher = The Ottawa Citizen| date =2009-10-02| url= http://www.ottawacitizen.com/health/arrives+with+bang/2131204/story.htmlx |
The first "T" stands for Tawa Supermarket Inc; the second "T" represents Uni-President Enterprises Corp., whose Chinese name is pronounced "Tong Yi".<ref>{{cite web| title =T&T arrives with a bang | author = Ron Eade |publisher = The Ottawa Citizen| date =2009-10-02| url= http://www.ottawacitizen.com/health/arrives+with+bang/2131204/story.htmlx |
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Revision as of 16:22, 5 March 2012
 | This article needs additional citations for verification. (January 2008) |
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| Company type | Asian supermarket |
|---|---|
| Industry | Retail |
| Founded | 1993 (Metrotown, Burnaby) |
| Headquarters | Richmond, British Columbia |
| Products | Bakery, dairy, deli, frozen foods, grocery, meat, produce, seafood, snacks |
| Parent | Loblaw Companies |
| Website | www.tnt-supermarket.com |
T & T Supermarket (simplified Chinese: 大统华超级市场; traditional Chinese: 大統華超級市場; pinyin: Dàtǒnghuá Chāojíshìchǎng Cantonese=Dai Tung Wah Tsiu Kap Si Tseung) is a Canadian supermarket chain which sells primarily Chinese and Asian foods. The supermarket chain is headquartered in Richmond, British Columbia. In 1993, the first T & T was opened in Burnaby's Metropolis shopping centre in Metro Vancouver.
With rapid expansion, T & T is now Canada's largest Asian supermarket chain. It has eight stores in Metro Vancouver, four in Alberta (two in Calgary and two in Edmonton), and seven stores in Ontario with six stores in the Greater Toronto Area including Downtown Toronto, and one in Ottawa. More stores are expected to open in the coming years with a target for 10 in Eastern Canada.[citation needed]
The average size of each store is between 35,000 sq ft (3,300 m2). and 45,000 sq ft (4,200 m2). In addition to the many departments found in a regular supermarket, most T & T stores also have an in-house bakery, an Asian deli, a sushi and Chinese barbecue department.
T & T is part of Loblaw Companies, which purchased it in July 2009 for $225 million in consideration, consisting of $191 million in cash and $34 million in preferred shares.[1] The consideration paid above and beyond the tangible asset base of the company (i.e. the accounting goodwill) was estimated at $180 million.[2] The chain had been created as a joint venture of Uni-President Enterprises Corporation, one of Taiwan's ten largest conglomerates; Tawa Supermarkets Inc., a California-based chain of Asian supermarkets; and a group of Canadian investors. Chief executive officer Cindy Lee is a Taiwanese-Canadian who started the business with one store.
The first "T" stands for Tawa Supermarket Inc; the second "T" represents Uni-President Enterprises Corp., whose Chinese name is pronounced "Tong Yi".[3]
Locations
British Columbia
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Does not include two Osaka Supermarkets which are also owned by T & T Supermarket.
- Yaohan Centre – Richmond
- Park Royal Shopping Centre South – West Vancouver
Alberta
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Ontario
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Lawsuit of exploitation
On March 5, 2007, The Tyee blog reported a case of a foreign temporary worker who had been exploited, and had his passport seized by T & T Supermarket. "In a notice of claim filed with the small claims division of the provincial court of B.C., Gui Qiang Zou claims he was pressured into working longer hours for lower wages than promised after the firm kept his passport and other key documents."[4][citation needed]
See also
{{{inline}}}
References
- ^ "Loblaw buying T&T Asian food chain". CBC News. July 24, 2009.
- ^ "2009 Third Quarter Report" (PDF). Loblaw Companies. p. 22. Retrieved 2012-03-04.
- ^ Ron Eade (2009-10-02). "T&T arrives with a bang". The Ottawa Citizen. Retrieved 2010-02-12. [dead link]
- ^ Tricked and Exploited?, www.TheTyee.ca, March 5, 2007
External links
